Indiana § 5-20-4-7 Establishment of fund; administration; resources; investments;
disposition of remaining money; interest

Indiana Statutes

§ 5-20-4-7 — Establishment of fund; administration; resources; investments; disposition of remaining money; interest

Indiana·Title 5 STATE AND LOCAL ADMINISTRATION·Art. 20 HOUSING·Ch. 4 Affordable Housing and Community Development Fund

(a)There is established the affordable housing and community development fund. The fund shall be administered by the authority under the direction of the authority's board.

(b)The fund consists of the following resources:

(1)Appropriations from the general assembly.

(2)Gifts, grants, and donations of any tangible or intangible property from public or private sources.

(3)Investment income earned on the fund's assets.

(4)Repayments of loans from the fund.

(5)Funds borrowed from the board for depositories insurance fund (IC 5-13-12-7).

(6)Money deposited in the fund under IC 6-7-2-17 and IC 36-2-7-10.

(c)The treasurer of state shall invest the money in the fund not currently needed to meet the obligations of the fund in the same manner as other public funds may be invested.

(d)The m

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(a) There is established the affordable housing
and community development fund. The fund shall be administered by
the authority under the direction of the authority's board.
(b) The fund consists of the following resources:
(1) Appropriations from the general assembly.
(2) Gifts, grants, and donations of any tangible or intangible
property from public or private sources.
(3) Investment income earned on the fund's assets.
(4) Repayments of loans from the fund.
(5) Funds borrowed from the board for depositories insurance
fund (IC 5-13-12-7).
(6) Money deposited in the fund under IC 6-7-2-17 and IC 36-2-7-10.
(c) The treasurer of state shall invest the money in the fund not
currently needed to meet the obligations of the fund in the same
manner as other public funds may be invested.
(d) The money remaining in the fund at the end of a fiscal year does
not revert to the state general fund.
(e) Interest earned on the fund may be used by the authority to pay
expenses incurred in the administration of the fund.

Indiana § 5-20-4-7 (Establishment of fund; administration; resources; investments; disposition of remaining money; interest) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

As added by P.L.69-1989, SEC.4. Amended by P.L.27-1993, SEC.17; P.L.1-2006, SEC.114; P.L.181-2006, SEC.31; P.L.1-2007, SEC.32; P.L.211-2007, SEC.1; P.L.234-2007, SEC.200; P.L.3-2008, SEC.31.